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Getting the Board On-Board for Branch Transformation

Posted by Laura Ory

February 23, 2017

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Financial execs had a lot of optimism for the future at the recent Acquire or Be Acquired conference, but it wasn’t all sunny, as some serious warnings were also doled out.

Being slow to adopt new technologies and keeping up with changes in the industry could soon become a very big problem for those who are lagging behind, U.S. Bancorp’s retiring CEO Richard Davis. 

“You can’t be OK with catching up two to three years later." - Richard Davis

And while much of the focus remains on digital channels, the branch still plays an important part of attracting, engaging and keeping clients.

The large majority of financial execs (81%) find it imperative to transform the branch experience, according to Celent’s research—but following up on that imperative is where many banks and credit unions are getting stuck.

Don't be this guy.

Gaining Clarity

Most financial institutions have similar wants from their branches: better sales, a more advisory environment, increased efficiency and differentiation from competitors.

Finding the right mix of technology to enable an efficient and effective micro-branch or optimizing your existing branch footprint takes a new approach from what was done in the past. And coming up with a plan that achieves these goals is daunting, especially when it isn’t your “day job.” 

But out of these challenges, DBSI created a way to make this complex process a lot simpler for our clients, and it begins with “Discovery”. 

Discovering Your Branch of the Future 

The first step to a successful Branch Transformation is getting your executive team and board all on the same page, so you can answer the big questions, like: 

  • What problems are we solving? 
  • What are we going to do? 
  • Where and when do we start? 

In order to find these answers, we’ve identified about 37 questions we ask the whole team (not just the most opinionated person in the room). 

This helps uncover what works and what doesn’t for your organization, what’s unique about it, what barriers exist and what goals you have. Then it all gets summarized into a comprehensive and clear executive summary that guides your branch design so that it can accomplish what you set out.

Hands in for teamwork! via GIPHY

Understanding Branch Barriers and Innovations

So how do you kick off this process with your executive team and board?

Hundreds of financial institutions have begun with a visit to our Ideation Center in Chandler, AZ—which lets you explore the latest banking innovations, technology and designs, and see how they help overcome the common barriers branches have for effective client engagement. 

It’s the only place where your team can get a hands-on look at so many branch transformation strategies in one place. If branch transformation is an imperative for your team, it’s a must-see destination.

The Fast-Track to Branch Optimization

Stop wasting another meeting, email, or day wondering how to move your initiatives forward. The Ideation Center is the perfect retreat to get your team started.

And during March and April, we'll even treat your team to a round at of one Arizona’s amazing golf courses, TPC Scottsdale, Troon, Grayhawk or Whirlwind, or a Cactus League spring training game.

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Yes, you could be here! 

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...or here. (Photo by Dave Nakayama

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And here: The Ideation Center!

Get a little sun and strategizing in this spring, and learn more about booking a visit to the Ideation Center! (Can’t spare the time for a visit? Let us come to your team for a Jumpstart Session.)

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Topics: Retail Banking, Branch Transformation, Branch Design

    
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About The Blog

We help financial institutions break the mold and improve their branch profitability and experience. And we openly share our knowledge rather than tuck it away for some secret strategic advantagea reason many of our clients come to us. This blog is our opportunity to write, teach and speak about what we do, and what we see happening across the banking industry.

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